Page 31 - Moreno Valley 2025 Annual Financial Report

Capital Asset and Debt Administration

Capital Assets

At the end of FY 2024-25, the City’s governmental activities had $1.7 billion ($919.6 million net of
accumulated depreciation and amortization) invested in a broad range of capital assets, including land,
buildings and improvements, machinery and equipment, vehicles, park facilities, roads, highways, and
bridges. The current year capital asset additions of $99.9 million (including intangible assets) were offset
by current year depreciation and amortization expense of $40.9 million and asset retirements (including
transfers out from Capital Improvement Projects) net of accumulated depreciation of $56.1 million for
a net increase of $2.9 million. This increase was primarily caused by progress in construction projects
following the pandemic.
At June 30, 2025, the City’s business-type activities had $114.2 million ($86.3 million net of accumulated
depreciation) invested in capital assets, primarily utility infrastructure. The current year capital asset
additions of $11.0 million were offset by current depreciation expense of $3.0 million and asset retirements
(including transfers out from Capital Improvement Projects) net of accumulated depreciation of $5.9
million for a net increase of $2.1 million. This increase was primarily driven by the expansion of utility
infrastructure projects following the pandemic.

City of Moreno Valley

Capital Assets
June 30, 2025
($000’s)

Governmental Activities Business-type Activities Total Primary Government
2024 2025 2024 2025 2024 2025
Land $ 307,414 $ 307,414 $ 3,195 $ 3,195 $ 310,609 $ 310,609
Buildings and improvements 160,430 160,639 1,664 1,664 162,094 162,303
Furniture and equipment 34,177 34,123 1,347 955 35,524 35,078
Vehicles 14,085 16,165 - - 14,085 16,165
Construction in progress 64,614 48,901 6,122 8,138 70,736 57,039
Infrastructure 1,029,063 1,080,834 96,884 100,246 1,125,947 1,181,080
Right-to-use intangible assets 5,382 8,677 - - 5,382 8,677
1,615,165 1,656,753 109,212 114,198 1,724,377 1,770,951
Accumulated depreciation (695,920) (733,740) (25,037) (27,879) (720,957) (761,619)
Accumulated amortization (2,556) (3,420) - - (2,556) (3,420)
Net Capital Assets $ 916,689 $ 919,593 $ 84,175 $ 86,319 $ 1,000,864 $ 1,005,912

Some of the major capital projects from the Capital Improvement Plan that were completed during the
current fiscal year were:

• Redlands Boulevard Streetlight • Citywide Full Trash Capture Device
Improvements / Grelck Drive to North City Installation
Limits • Park Rehabilitation and Refurbishment -
• Citywide Pavement Rehabilitation Program Playground Replacement at Towngate II &
(FY 23/24) Celebration Park

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